Payment systems capable of handling personal checks are commonly used in supermarkets and other retailers. As shown in FIG. 24 (A), these checks have a payment information area 240 on the front of the check for writing the amount, payee (store name), and the check writer's signature, and magnetic ink character text 241 for recording a unique check verification number. An endorsement area 242 is further provided on the back of the check as shown in FIG. 24 (B) for endorsement by the payee.
When a check is used in a supermarket, for example, the amount, store name, and customer's signature are written to payment information area 240, check validity is verified using magnetic ink character text 241, and the check is then endorsed in endorsement area 242. These tasks are typically accomplished by a process similar to the following.
First, the check issuer or user (referred to below as the customer) handwrites the amount and store name, and signs the check in payment information area 240. An MICR scanner at the checkout register then scans the magnetic ink character text 241 to obtain the bank and account number information. This information is then sent to the bank for check verification. If the check is verified, a printer at the checkout register prints the store's endorsement information to the endorsement area 242 on the back of the check. The check is then sent via the store's bank to the customer's bank where an image of the check is captured to microfilm and stored for a period of time.
A problem with this common process is that different devices are required for each step of the process and many of the steps are manually performed. The check must therefore be manually transferred between steps, and completing the transaction thus becomes timeconsuming. While printers having an integral MICR reader are now also available, the operator must still turn the check over between MICR scanning and endorsement printing steps.
Furthermore, the conventional transaction process requires the bank issuing the check to recover the physical check and record an image thereof to microfilm. There is, therefore, the danger of the check becoming lost or stolen during the transfer from retailer to issuing bank.